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BEIJING, May 28 -- China's economy can maintain a steady growth above 8 percent for a relatively long period because of a stable society, a vast market and ample capital, said Cheng Siwei, an economist and former vice chairman of the Standing Committee of the National People's Congress.    "China's economy can stay in the fast developing track if we work hard and pay enough attention to existing problems," Cheng said at a three-day forum with the theme of "Economic globalization and the choice of Asia: transition, growth and welfare" Wednesday in Shanghai.     "Social stability is crucial to economic development while China has a market of 1.3 billion people, which creates a huge consumption power," said Cheng. "Meanwhile, China's foreign reserves have reached US.68 trillion, and it has built up an ample capital pool."     China also beefed up its efforts to improve education and expand its coverage, which paved the way for sustainable economic development, he said, but added that there were problems China could not afford to ignore. File photo of Cheng Siwei    One of them was the yawning gap between the rich and the poor. The income of urban residents has tripled that of rural households while the purchasing power in cities was four times larger than that in rural areas.     China faced increasing pressure to protect the environment and in securing raw materials and resources for its economy. It also lacks a large pool of senior professionals in finance and management.     "For example, we buy a lot of the United States treasury bonds. It means appointing them (US bond managers) to manage our assets and we only gained a little bit of interest," said Cheng. "We are trying to work on such problems."     Cheng estimated China's per capita GDP can reach US,000 by 2010, US,000 by 2020 and US,000 by 2049, given its economic expansion and a stronger yuan.

BEIJING, Sept. 8 (Xinhua) -- A reception was given here Monday to mark the 60th anniversary of the founding of the Democratic People's Republic of Korea (DPRK). Chinese top political advisor Jia Qinglin attended the event.     Jia, chairman of the National Committee of the Chinese People's Political Consultative Conference, congratulated the DPRK on the anniversary, hailing the DPRK's economic and social achievements over the past six decades.     "We are wholeheartedly glad to see it, and hope to see the DPRK and its people score bigger achievements in their future national construction," Jia said at the opening of the reception. Jia Qinglin (L), chairman of the National Committee of the Chinese People's Political Consultative Conference, toasts with Choe Jin Su, ambassador of the Democratic People's Republic of Korea (DPRK) to China, during a reception at the DPRK Embassy in Beijing, capital of China, Sept. 8, 2008. DPRK Ambassador to China Choe Jin Su held the reception on Sept. 8 to celebrate the 60th anniversary of the founding of the Democratic People's Republic of KoreaThe senior Chinese leader also highlighted the traditional friendship between China and the DPRK, vowing that China will continue to make joint efforts with the DPRK to push forward the bilateral relations to a new level.     Choe Jin Su, DPRK ambassador to China, said that the DPRK highly values its ties with China and will join with China to further promote relations, especially at the 60th anniversary of the establishment of the bilateral diplomatic relationship next year.     He also expressed his congratulations on the success of the Beijing Olympic Games.

BEIJING, May 16 (Xinhua) -- Chinese President Hu Jintao Friday went to Beichuan County of Mianyang City to visit people affected by the southwest China earthquake, encouraging them to be confident in overcoming hardships caused by the disaster.      Hu first visited quake victims in Shengli Village, Leigu Town of Beichuan. More than 1,000 out of the 18,000 population in Leigu Town died or were missing in the quake. Chinese President Hu Jintao comforts a wounded woman in Mianyang, a city in quake-hit southwestern Sichuan Province, May 16, 2008.He encouraged them to be confident in overcoming hardships caused by the disaster.Hu went into a tent to talk to one family. Seeing the man's daughter was injured in the quake, Hu said, "We know you've suffered. The quake destroyed your house and injured members of your family. We feel your anguish.     "The whole Party, army and all the people have been mobilized to support the quake relief work," he said.     Hu went out the tent and said to people standing along the road, "We will make every effort to rescue stranded people, treat the injured and make proper arrangements for the victims, as well as helping you to rebuild your homes." Chinese President Hu Jintao consoles locals in a village in Beichuan county, May 16, 2008. He encouraged them to be confident in overcoming hardships caused by the disaster. He encouraged the victims to be strong, overcome difficulty with confidence, courage and strength.     He then went to the Beichuan Middle School, where all the teaching buildings collapsed in the quake.     Knowing there were still 300 teachers and students buried in the ruins, Hu said, "Saving lives is still an urgent task. We should rescue them by every possible means as long as there is a glimmer of hope."     Hu also praised the troops conducting rescue work in Beichuan Middle School. Chinese President Hu Jintao in Beichuan county entrusts military medical personnels to take better care of a three-year-old girl who lost her mother in the devastating earthquake in Sichuan, May 16, 2008."You came to the frontline immediately, and threw yourself into the rescue work regardless of your own safety and made a great contribution.     "You have given hope, confidence and strength to the quake-affected people," he said.     Hu said the rescue work has entered a crucial stage. "You should be unafraid of fatigue and work around the clock, making great efforts to keep losses to a minimum." Chinese President Hu Jintao consoles locals in a village in Beichuan county, May 16, 2008.  In a field clinic in the middle school, he kissed the face of Luo Mengxi, a three-and-half year old girl who lost her mother in the quake.     He went back to Beichuan county seat and visited the Nanhe Sports Center, where more than 10,000 disaster-affected people were settled. He thanked the volunteers for their contribution to the rescue work.     He also visited the Mianyang City Central Hospital, telling the medics to make every effort to treat the injured. Chinese President Hu Jintao consoles locals in a village in Beichuan county, May 16, 2008. He encouraged them to be confident in overcoming hardships caused by the disaster.Hu went to the quake-hit areas Friday to console quake-affected people and direct disaster relief operation.     Hu arrived at Mianyang City at Friday noon after more than two hours of flight from Beijing. In the meeting room of the airport, he and Premier Wen Jiabao, who had been directing relief work in the disaster-hit areas since Monday, discussed the quake-relief work.     The meeting said "rescuers must reach not only towns but also all villages." The survivors who had been rescued must be transferred to safer places in time, and children who lost their parents and elders who lost their family members in the quake must be properly cared for.     Also Friday morning, Premier Wen Jiabao told Chinese media on a train in Sichuan that saving lives remained the top priority almost four days after the quake.     "We won't give up if there is even the slightest hope of finding more survivors," he said.     The death toll from the powerful earthquake rose to 22,069 nationwide as of 2 p.m. Friday, while 168,669 people were injured, according to the emergency response office of the State Council.

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BEIJING, Aug. 14 (Xinhua) -- Chinese Premier Wen Jiabao said on Thursday he hoped that Hungarian athletes had good results in the ongoing Olympics.     He made the comments while meeting with the Hungarian Prime Minister Ferenc Gyurcsany. Wen welcomed Gyurcsany to watch the Olympic Games. Chinese Premier Wen Jiabao (R) shakes hands with Hungarian Prime Minister Ferenc Gyurcsany in Beijing, China, Aug. 14, 2008Wen also expressed gratitude for the assistance of Hungary after the massive May 12 earthquake in southwest Sichuan Province, in particular its arrangement of sending recuperating children to Hungary.     China valued its traditional friendship with Hungary and would take the 60th anniversary of bilateral ties in the coming year as an opportunity to push forward all-round cooperation, Wen said.     Gyurcsany said Hungary hoped to enhance high-level contacts and trade and cultural exchanges with China, and would like to play a positive role in promoting relations between China and the European Union.Chinese Premier Wen Jiabao (R) meets with Hungarian Prime Minister Ferenc Gyurcsany in Beijing, China, Aug. 14, 2008.

BEIJING, July 27 (Xinhua) -- The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses.     The oil giant had 1.67 million staff last year, which meant more than 80,000 of them would be laid-off within three years, Beijing News reported.     The move followed CNPC's earlier announcement to cut non-production spending by 10 percent from a year earlier, the paper said. The China National Petroleum Corp. (CNPC), the country's largest oil producer, planned to cut its workforce by 5 percent in upcoming three years as its profits had been squeezed by heavy refining losses.    CNPC's profit before tax dropped by 39 percent year-on-year to 56.4 billion yuan (8.3 billion U.S. dollars) in the first half year as a result of refining loss and windfall taxes on crude oil sales.     To reduce costs, CNPC halted or cut investment in 49 projects in June, saving the company up to 20.72 billion yuan.     PetroChina, CNPC's listed arm, announced last month to issue no more than 60 billion yuan to "satisfy the operational needs of the company, further improve its debt structure, reduce financing costs and supplement working capital."

BEIJING, Oct. 9 (Xinhua) -- China's securities regulator on Thursday said publicly-traded companies must pay dividends in cash rather than stock over three years before submitting their refinancing applications.     The move could help to encourage long-term investment and reduce market volatility, the China Securities Regulatory Commission (CSRC) said.     The benchmark Shanghai Composite Index has plunged 66 percent from its record high last October.     In a new regulation stipulating cash dividend payment by listed companies, the CSRC said: "The listed firms, if applying for refinancing, must pay dividends in cash totaling no less than 30 percent of its distributed profits over the past three years."     The regulation went into effect on Thursday.     In the draft version released in August, companies were allowed to pay dividends either in cash or stock.     The listed firms were also ordered to reveal their cash dividend policies and previous cash dividend data to investors in their annual reports to improve transparency.     "The listed company should give reasons why it failed to pay a cash dividend if it is able to and where the money goes," according to the rule.     Cash dividends could offer stable investment returns and prompt large institutional investors to reduce speculation on the secondary market, the regulator said.     A couple of huge refinancing plans earlier this year triggered a market plunge on concerns over stake dilution and liquidity stress.     In a separate regulation on share buy-back, also effective on Thursday, the CSRC said it allowed a cash dividend payment when the controlling shareholders bought stocks on the secondary market.     Such action was banned in the draft version released in late September to solicit public opinion.     Share buy-back through bidding at stock exchanges also no longer needs regulatory approval.     The CSRC added it would continue to revise the rules on stock buy-back and also give consideration to repurchase through agreement or tender offer.

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SINGAPORE, July 23 (Xinhua) -- The first informal meeting of the Foreign Ministers of the Six-Party Talks on the Korean Peninsula nuclear issue concluded here on Wednesday with "very meaningful results", Chinese Foreign Minister Yang Jiechi said.     In a news briefing after the close-door talks on the sidelines of the Association of Southeast Asian Nations (ASEAN) Ministerial Meeting, Yang said that the Six-Party Talks have "very meaningful results", adding that they exchanged views and deepened understanding and expressed the will of continued pushing forward the Six-Party Talks further.     Yang said, "with joint efforts, the six parties agreed that the initial success has been achieved" and the informal talks "made useful preparation for the formal Six-Party Ministerial Talks in early day".     The Chinese foreign minister said the six parties reaffirmed they will earnestly fulfill their commitment to the signed joint statements and related documents.     Yang said all agreed the Six-Party Talks are an important platform for exchanging views and enhancing understanding, adding that the six parties should continue to enhance their exchanges so as to "achieve mutual benefit and win-win progress". L to R) South Korean Foreign Minister Yu Myung-hwan, United States Secretary of State Condoleezza Rice and Chinese Foreign Minister Yang Jiechi arrive at the venue of the first foregin ministers' informal meeting of the six-party talks on the Korean Peninsula nuclear issue, in Singapore, July 23, 2008"As the Chair of Six-Party Talks," Yang said, "China will continue to make contributions...."     Yang said that although initial success has been achieved, yet "we have a lot of work to do".     The six countries involved in the talks are DPRK (Democratic People's Republic of Korea), China, the United States, South Korea, Japan and Russia.     In a statement issued late Tuesday night on ASEAN Plus Three (China, Japan and South Korea), ASEAN ministers welcomed recent developments that have contributed to regional peace and security in East Asia.     They reiterated their support for the Six-Party Talks and for the eventual normalization of relations between the relevant Six-Party members.     The latest round of talks was held in Beijing. Chief delegates of the six-party talks on the Korean Peninsula nuclear issue ended talks on July 12, agreeing to establish a verification mechanism for denuclearization.

BEIJING, May 6 (Xinhua) -- Premier Wen Jiabao said on Tuesday that China supported the Caribbean integration process.     "China will strengthen dialogue with the Caribbean community based on mutual respect, reciprocity and equality to promote south-south cooperation and achieve common prosperity," said Wen. Chinese Premier Wen Jiabao (L) hosts a welcoming ceremony for his counterpart of Barbados David Thompson in Beijing, capital of China, May 6, 2008. Wen Jiabao held talks with David Thompson on May 6. He made the remarks during a meeting with David Thompson, prime minister of Barbados, who arrived in Beijing on Monday for a four-day official visit to China.     Wen said China and Barbados had maintained good cooperation in the areas of trade, technology, and personnel training as well as in such international organizations as the United Nations.     "Both China and Barbados are developing nations and enjoy common interests," Wen said.     He vowed to expand cooperation with Barbados on trade, tourism, architecture and sustainable development.     Thompson expressed gratitude for China's support to his country's economic and social development.     He said Barbados attached importance to relations with China and would continue adherence to the one-China policy. He also said that Barbados supported the Beijing Olympic Games and China's participation in the Inter-American Development Bank.

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SARAJEVO, Sept. 12 (Xinhua) -- China and Bosnia pledged on Friday to strengthen cooperation between each other and push their relations to a higher level.     "China cherishes the traditional friendship with Bosnia, hopes to broaden political dialogues at different levels and deepen the exchange and cooperation in such fields as trade and lift the bilateral relations between the two countries to a higher level," visiting Chinese vice Premier Zhang Dejiang said.     Zhang made the comments in his meeting with rotating Chairman Haris Silajdzic of the Presidency of Bosnia and Herzegovina, and Nebojsa Radmanovic, another member of the group made of three members.     "China regards Bosnia as a trust-worthy friend and partner, and we greatly appreciate Bosnia's stance on one-China policy and its support for China's great cause of peaceful unification with Taiwan," Zhang said.     Silajdzic congratulated China on successfully staging the 29th Beijing Olympic Games. He said that the opening ceremony of the games displayed Chinese long history and its splendid culture and it also showed China's desire for a harmonious world. Bosnian Prime Minister Nikola Spiric (R) and Chinese Vice Premier Zhang Dejiang attend a news conference in Sarajevo, on Sept. 12, 2008. Nikola Spiric met with Zhang Dejiang on FridaySilajdzic said Bosnia and China enjoy a good tradition of mutual respect and mutual support. The two countries have a good cooperation in international and regional affairs.     "Bosnia and China have a sound base for furthering good bilateral relations. Bosnia hopes to strengthen the ties in trade and economy between the two, and push the friendly cooperation to a new level," Silajdzic said.     Zhang arrived here on the second leg of his three-nation European tour which has already taken him to Germany, where he attended the third meeting of the China-Europe Forum in Hamburg. Zhang will also visit Macedonia.

BEIJING, Oct. 10 (Xinhua) -- A new-generation short haul passenger aircraft solely developed in China has completed a successful trial flight, paving the way for commercial production next year, the manufacturer announced on Friday.     The Xinzhou-600, developed by Xi'an Aircraft Industry Company (XAC) of the China Aviation Industry Corporation I (AVIC I), flew on Thursday in Xi'an, capital of northwest China's Shaanxi Province, said the AVIC I.     The turboprop aircraft was a new version of the Xinzhou-60 that can carry 50 to 60 passengers. The Xinzhou-600 had been updated with a more comfortable cabin and better designed body structure and maintenance system, said Geng Ruguang from the AVIC. A new-generation short haul passenger aircraft solely developed in China has completed a successful trial flight, paving the way for commercial production next year, the manufacturer announced on Friday    It was also designed for inter-island flights, which would helpit in the Southeast Asia and island nation markets, Geng said.     XAC took about three years to develop the Xinzhou-600, which would be delivered to clients from the second half of 2009, he said.     The company has orders for 136 Xinzhou-60s and has exported them to Zambia, the Republic of Congo, Laos, Zimbabwe and Bolivia since 2006.     This would give China the edge to compete in the global market for turboprop aircraft, where demand is expected to reach 1,900 in20 years.     Geng said the company had started to plan the development of the next generation aircraft, the Xinzhou-700.